The world’s leading and trailing currencies revealed, the US dollar isn’t number one – London Business News

The US dollar may be the most traded currency on the planet, underpinning global markets and international trade, but that dominance does not necessarily make it the leading currency in circulation.

When measured against the British pound, some of the world’s most valuable currencies come from relatively small nations, while others have been weakened to the point where £1 can buy tens of thousands, or even more than a million units.

Using GBP as a benchmark, fresh analysis from Plus500 reveals which fiat currencies are currently the leading and trailing worldwide.

The leading currencies in the world

Which have the highest nominal value against GBP

1. Kuwaiti dinar (KWD) – the world’s top-performing currency, with one dinar worth around £2.42, while £1 buys just 0.41 KWD.
2. Bahraini dinar (BHD) – valued at approximately £1.98 per dinar, with £1 buying 0.50 BHD.
3. Omani rial (OMR) – one rial is worth about £1.93, while £1 buys 0.52 OMR.
4. Jordanian dinar (JOD) – trading at roughly £1.05 per dinar, meaning £1 buys 0.95 JOD.
5. British pound (GBP) – still among the world’s leading currencies despite recent volatility.
6. Gibraltar pound (GIP) – pegged to sterling and ranking jointly with the British pound.
7. Swiss franc (CHF) – often viewed as a safe-haven currency, worth around £0.93, with £1 buying 1.07 CHF.
8. Cayman Islands dollar (KYD) – valued at approximately £0.89, while £1 buys 1.11 KYD.
9. Euro (EUR) – used across much of Europe, with one euro worth around £0.86 and £1 buying €1.15.
10. US dollar (USD) – the world’s most traded currency, but worth around £0.74, with £1 buying $1.34.

The trailing currencies in the world

Which have the lowest nominal value against GBP

1. Iranian rial (IRR) – the trailing currency globally, with £1 buying approximately 1,426,592 rials, while one rial is worth £0.0000007.
2. Lebanese pound (LBP) – severely impacted by economic collapse, with £1 buying around 120,550 pounds, and one pound worth £0.000008.
3. Vietnamese dong (VND) – trading at a tiny fraction of a penny, with £1 buying 35,179 dong, and one dong worth £0.000028.
4. Laotian kip (LAK) – similarly low in value, with £1 buying 28,947 kip, while one kip equals £0.000034.
5. Indonesian rupiah (IDR) – with £1 buying around 22,650 rupiah, and one rupiah worth £0.000044.
6. Uzbekistani sum (UZS) – valued at roughly £0.000062, meaning £1 buys about 16,032 sum.
7. Guinean franc (GNF) – worth around £0.000085, with £1 buying approximately 11,735 francs.
8. Paraguayan guaraní (PYG) – trading at about £0.00011, meaning £1 buys roughly 9,085 guaraní.
9. Syrian pound (SYP) – valued at around £0.01, with £1 buying approximately 148 pounds.
10. Zimbabwean dollar (ZWL) – worth around £0.02, with £1 buying approximately 34.42 dollars.

The contrast between the world’s leading and trailing currencies highlights the importance of economic stability, inflation control and monetary policy. Oil-backed Gulf currencies continue to dominate the top of the rankings, while nations facing prolonged sanctions or hyperinflation see their currencies sink to the bottom.

The US dollar remains unrivalled in terms of global influence, liquidity and usage, but these rankings show that raw currency value tells a very different story.

Disclaimer – This content is provided for general informational purposes only and does not constitute financial or investment advice.